ICPUSDT Needs a new HH
New Higher High and Breakout: You've indicated that for a potential bullish trading opportunity, ICPUSDT needs to achieve two key conditions. First, it should create a new higher high, which means that the price needs to surpass a previous local high. Second, the price needs to break out from both the dynamic and static daily resistance levels.
Dynamic and Static Daily Resistance: The dynamic resistance might refer to a resistance level created by a moving average or a trendline that reacts to recent price action. The static resistance is likely a price level where the price has historically faced selling pressure.
Plancton's Rules Application: According to your analysis and Plancton's Rules, a new long position could be considered if both the new higher high and the breakout from the resistance levels occur. A long position involves buying the asset with the expectation that its price will rise.
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Follow the Shrimp 🦐
Keep in mind.
Dynamic and Static Daily Resistance: The dynamic resistance might refer to a resistance level created by a moving average or a trendline that reacts to recent price action. The static resistance is likely a price level where the price has historically faced selling pressure.
Plancton's Rules Application: According to your analysis and Plancton's Rules, a new long position could be considered if both the new higher high and the breakout from the resistance levels occur. A long position involves buying the asset with the expectation that its price will rise.
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ Black structure -> <= 1h structure.
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